Gabelli Funds LLC Cuts Holdings in S&P Global Inc. (NYSE:SPGI)

Gabelli Funds LLC reduced its position in shares of S&P Global Inc. (NYSE:SPGI) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,037 shares of the business services provider’s stock after selling 5,957 shares during the period. Gabelli Funds LLC’s holdings in S&P Global were worth $63,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sapient Capital LLC boosted its position in shares of S&P Global by 2.5% during the 2nd quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock worth $385,000 after acquiring an additional 21 shares in the last quarter. Chatham Capital Group Inc. lifted its stake in S&P Global by 0.5% during the second quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock worth $2,007,000 after purchasing an additional 21 shares during the last quarter. D.B. Root & Company LLC boosted its holdings in S&P Global by 2.4% in the second quarter. D.B. Root & Company LLC now owns 955 shares of the business services provider’s stock valued at $426,000 after purchasing an additional 22 shares in the last quarter. Modera Wealth Management LLC increased its stake in S&P Global by 2.3% in the second quarter. Modera Wealth Management LLC now owns 960 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 22 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in S&P Global by 1.0% during the second quarter. Foundations Investment Advisors LLC now owns 2,133 shares of the business services provider’s stock worth $951,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Stock Down 0.1 %

S&P Global stock opened at $523.67 on Friday. S&P Global Inc. has a twelve month low of $340.49 and a twelve month high of $528.02. The stock has a 50 day moving average of $499.16 and a two-hundred day moving average of $455.14. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $163.86 billion, a price-to-earnings ratio of 58.71, a PEG ratio of 2.68 and a beta of 1.17.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the firm earned $3.12 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, research analysts expect that S&P Global Inc. will post 14.58 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Tuesday, August 27th. S&P Global’s dividend payout ratio (DPR) is 40.81%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America increased their target price on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Royal Bank of Canada raised their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. Stifel Nicolaus upped their target price on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, UBS Group upped their target price on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $548.18.

Insider Transactions at S&P Global

In other news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the transaction, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The disclosure for this sale can be found here. In the last three months, insiders sold 17,862 shares of company stock valued at $8,645,727. Corporate insiders own 0.10% of the company’s stock.

S&P Global Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.